Market Report: Gold Coast Takes Top Spot for Nabe with Priciest Home Sales

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[photo by Roman Boed]

Surprise: high end homes are hot in the Gold Coast. Luxury home sales have been up throughout the country, particular on the east and west coasts according to MLS listing site Redfin who has recently released their 2014 Luxury Report. Sales of the priciest 1 percent of homes in Chicago have been up over 9 percent over last year, however, the sale of the remaining 99 percent of homes has actually dropped 8.6 percent. Of all the homes in the super high end category in Chicago, over a quarter have been purchased with cash. So where are folks buying these super high end homes? The top neighborhoods that have seen the most 1 percent luxury home sales in the last year are the Gold Coast, Streeterville and Lincoln Park. The new report appears to match up with a previous report that utilized census data to create a list of the wealthiest nabes in Chicago.

ยท2014 Luxury Report: Sales of Priciest 1% of Homes Climb While Rest of Home Sales Still Down [Redfin]